What happens now ifmy sister died without a Willand she was the sole owner of a food and liquor store?

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What happens now ifmy sister died without a Willand she was the sole owner of a food and liquor store?

Asked on December 28, 2011 under Estate Planning, Illinois

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

I am so sorry for your loss.  You have not given much information about your sister and her life hre which is needed to help guide you.  Did she own the building the store was in or did she rent?  Did she own the business and sign the lease as an individual or did she form a corporation to establish the business with her being the person in charge of the corporation.  Her estate - and if there was a corporation in which she has an interest it is part of her estate - has to be probated.  If she had a Will when she passed away then her estate would go to those in her Will. If she died without a Will then her estate passes under the intestacy statutes in Illinois.  Was there a spouse or children?  They take primarily under the statute.  If not then her estate would pass to her parents and siblings.  You really need to consult with an attorney in the area, especially if there is a business involved and bills to pay.  Good luck.   


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